Latest news with #ZouJiayi
Euronews
2 days ago
- Business
- Euronews
AIIB elects former anti-corruption official as new president
The Asian Infrastructure Investment Bank — a similar institution to the World Bank — announced a new president on Tuesday during its 10th annual meeting. Zou Jiayi will see her five-year term begin on 16 January 2026, the day after the founding President Jin Liqun concludes his second five-year term. 'The Bank's strategy is clear and on track, and there is so much more we can achieve in the years to come,' said Zou. 'In the first 10 years, AIIB has already invested development capital in 322 projects across 38 member economies, in many cases in partnership with other leading multilateral development banks.' Zou Jiayi is a former vice minister of finance and senior member of the Chinese Communist party's anti-corruption body. Her experience spans organisations including the World Bank Group, the Asian Development Bank, the New Development Bank, the AIIB and the IFAD. She is also deputy secretary-general of the Chinese government's advisory body (CPPCC). The AIIB is focused on development in Asia, although it has 110 members from across the globe. These include European nations such as Germany and France, but the US is not a member. The annual meeting comes at a critical time for the bank as it seeks to court business opportunities, particularly while institutions like the World Bank and the IMF face potential funding cuts from the US administration. The AIIB now employs 700 international staff from 78 economies and it has invested more than $60 billion, with at least half of new financing now directed to climate finance projects.
Euronews
3 days ago
- Business
- Euronews
China's AIIB elects former anti-corruption official as new president
China's AIIB — a similar institution to the World Bank — announced a new president on Tuesday during its 10th annual meeting. Zou Jiayi will see her five-year term begin on 16 January 2026, the day after the founding President Jin Liqun concludes his second five-year term. 'The Bank's strategy is clear and on track, and there is so much more we can achieve in the years to come,' said Zou. 'In the first 10 years, AIIB has already invested development capital in 322 projects across 38 member economies, in many cases in partnership with other leading multilateral development banks.' Zou Jiayi is a former vice minister of finance and senior member of the Chinese Communist party's anti-corruption body. Her experience spans organisations including the World Bank Group, the Asian Development Bank, the New Development Bank, the AIIB and the IFAD. She is also deputy secretary-general of the Chinese government's advisory body (CPPCC). The AIIB is focused on development in Asia, although it has 110 members from across the globe. These include European nations such as Germany and France, but the US is not a member. The annual meeting comes at a critical time for the bank as it seeks to court business opportunities, particularly while institutions like the World Bank and the IMF face potential funding cuts from the US administration. The AIIB now employs 700 international staff from 78 economies and it has invested more than $60 billion, with at least half of new financing now directed to climate finance projects.
South China Morning Post
3 days ago
- Business
- South China Morning Post
China's Zou Jiayi, a former finance official, elected AIIB president
Former vice-minister of finance Zou Jiayi has been elected president of the Asian Infrastructure Investment Bank (AIIB), leading the lender and its US$100 billion in capital through a decisive moment for globalisation and development finance. The decision was announced at the Beijing-based bank's annual meeting on Tuesday, held with representatives of its 110 member states and other stakeholders at its headquarters to celebrate its 10th anniversary. Zou, 62, will serve a five-year term which begins January 16. She will replace Jin Liqun, the inaugural president who shepherded the bank from conception to active operations over two terms, building it into a major multilateral development institution. 'I am humbled and honoured by the trust that AIIB members have placed in me,' the president-elect said in a press release. 'The bank's strategy is clear and on track, and there is so much more we can achieve in the years to come.' Zou, nominated as China's candidate at the end of March, is currently deputy secretary general of the Chinese People's Political Consultative Conference, the country's top political advisory body. She is also one of the few female members of the ruling Communist Party's powerful Central Committee. 'She has a wealth of experience in promoting China's international cooperation and dialogue in the financial sector, which could prove valuable in her new role,' said Zhao Xijun, a finance professor at Renmin University in Beijing.
Nikkei Asia
3 days ago
- Business
- Nikkei Asia
AIIB names Chinese Communist Party Central Committee member as president
Finance Zou Jiayi takes over Beijing-based lender from internationalist Jin Liqun Zou Jiayi, a member of the Chinese Communist Party Central Committee and a deputy secretary-general of the Chinese People's Political Consultative Conference, or CPPCC, was chosen as the next president of the AIIB. © Reuters KENJI KAWASE TOKYO -- The Asian Infrastructure Investment Bank, a multilateral development lender established under the initiative of China, selected Zou Jiayi as its new president at its annual meeting in Beijing on Tuesday. Zou, who was nominated by the Chinese government, is currently a member of the Chinese Communist Party Central Committee, and a deputy secretary-general of the Chinese People's Political Consultative Conference, or CPPCC, the country's top political advisory body.
Reuters
3 days ago
- Business
- Reuters
China's Zou Jiayi named next AIIB president
BEIJING, June 24 (Reuters) - China's finance ministry said on Tuesday the next president of the Asian Infrastructure Investment Bank would be Zou Jiayi, a former Chinese vice finance minister who is expected to lead efforts to expand the lender's presence in major global financial centres. Zou will take office in January for a five-year term from Jin Liqun, the ministry said in a statement. AIIB's second president and first female leader, Zou inherits an organisation that Jin - another former Chinese vice finance minister and one of the country's most influential financial officials, having previously also held positions at the Asian Development Bank and the country's sovereign wealth fund - shaped into a key facilitator of President Xi Jinping's sprawling 'Belt and Road' initiative. But during his second term, Jin faced allegations that the Chinese Communist Party exerted undue influence within the multilateral development bank, claims the AIIB said it had investigated and dismissed. Established by Xi in 2016 as a Chinese alternative to the World Bank and other Western-led multilateral lending institutions, the AIIB has 110 members worldwide, including India, Russia, Germany and Britain. Zou is tipped to push the Beijing-based lender into closer alignment with major development spenders such as the U.S. and Japan, development diplomats say. Bloomberg and Politico have reported that the AIIB also seeks to set up offices in Hong Kong, Singapore and London, in addition to its current satellite office in Abu Dhabi.
